Kentucky Revised Statute 164.350 [1] confers upon the Board of Regents the legal authority to ensure financial stability of the Kentucky Community and Technical College System (KCTCS). KRS 164.35 gives the Board of Regents authority to approve a biennial budget request and a current year operating budget, and to establish and maintain procedures to insure that accounts are audited in accordance with approved financial reporting systems. The By-Laws of Board of Regents provide further evidence of the legal authority [2]. Sample items requiring approval of the KCTCS Board of Regents include: Biennial Budget Requests for KCTCS inclusive of BSCTC's request [3] and the request of other KCTCS colleges, the KCTCS FY07 Operating Budget (including BSCTC 06 and 07 budgets on pages C-3 and C-4, respectively) [4], and KCTCS Audited Financial Statements (including BSCTC) for FY06 [5]. KCTCS Board of Regents meeting minutes reflect approval of the Biennial Budget Request on September 23, 2005 [6], of the FY07 Operating Budget [7] and the FY06 Operating Budget [8], and of the FY06 Audit Report[9a] included in the December 2006 KCTCS Board of Regent's meeting [9b].

In addition, KRS 164.600 [10] gives the Big Sandy Community and Technical College (BSCTC) Board of Directors the legal authority to approve budget requests for recommendation to KCTCS and to adopt and amend an annual budget. Also, the Board of Regents Policy 1.3.3.1 details the functions of the college's Board of Directors [11]. The BSCTC Board of Directors, in accordance with the BOD By-Laws [12] approved the FY07 Budget in May 06 [13] and the FY06 Budget in May 05 [14], prior to submission to KCTCS. Budget updates are also presented to the college's Board of Directors by BSCTC budget personnel at each Board meeting [15].

Source

Location/Special Instructions

1.

KRS 164.350 General powers and duties of boards of regents

http://lrc.ky.gov/krs/164-00/350.pdf

2.

KCTCS Board of Regents By-Laws

http://www.kctcs.edu/employee/policies/volumeI/kctcsregentsbylaws.pdf

3.

BSCTC Biennial Budget Requests/SNA summary submitted to KCTCS

3.2.2.2.3_SNA_Summary.pdf

4.

KCTCS Annual Budget (BSCTC included on page 28 (FY06) and 29 (FY07)

http://www.kctcs.edu/budget/FY07_budgetbook.pdf#page=28

5.

KCTCS Audited Financial Report 2005-06 (includes BSCTC)

3.2.2.2.5_Audited_Financial_Statement2005_2006.pdf

6.

KCTCS BOR meeting minutes excerpt - approval of Biennial Budget Requests - 9-23-05

http://www.kctcs.edu/organization/board/meetings/200509/2005_09minutes.pdf#page=21(page 21)

7.

KCTCS BOR meeting minutes - approval of FY07 Annual Operating Budget

http://www.kctcs.edu/organization/board/meetings/200606/minutes2006_06_23.pdf#page=7 (page 7)

8.

KCTCS Board of Regents Meeting Minutes, FY 06 Budget Approval, June 2005

http://www.kctcs.edu/organization/board/meetings/200506/2005_06_09_05_minutes.pdf#page=11 (page 11)

9.

a. KCTCS BOR 12-8-06 meeting agenda Item - approval of FY06 Annual Audit Report

b. KCTCS BOR 12-8-06 Meeting Executive Summary

9a http://www.kctcs.edu/organization/board/meetings/200612/03_Finance/I01_Audit%20FY%202006%20Dec%2010%205%20p142.pdf (approval of December 8, 2006 minutes will occur at the March 22, 2007 KCTCS BOR meeting)

9b http://www.kctcs.edu/organization/board/meetings/200612/executivesummarydec2006.pdf

10

KRS 164.600 Boards of directors for community colleges and community and technical colleges

http://lrc.ky.gov/krs/164-00/600.pdf

11

KCTCS Board of Regents Policy 1.3.3.1 KCTCS College Board of Directors

http://kctcs.edu/organization/board/meetings/200402/02_Executive/H04a_Policy_1 3 3 1.pdf

12

BSCTC Board of Director By-Laws

BSCTC_Bd_of_Directors_Bylaws.pdf

13

BSCTC Board of Directors Meeting Minutes - May 06 (approval of budget)

3.2.2.2.13_BSCTC_Bd_of_Directors_Notes_May_8_2006.pdf

14

BSCTC Board of Directors Meeting Minutes - May 05 (approval of budget)

3.2.2.2.14_Board_of_Directors_May_9_2005.pdf

15

BSCTC Board of Director meeting minutes

Bd_of_Dir_Min.pdf